Artificial Organs Market to Reach USD 20 Bn by 2022, States IMARC Group in Its Report Now Available at MarketPublishers.com14 Nov 2017 • by Natalie Aster
LONDON – Worldwide, the artificial organs market was worth more than USD 12 billion as of 2016. Fast ageing population globally and a subsequent hike in the number of patients with organ failures are the major factors propelling the market growth. Frequent car accidents and injuries resulting in amputations alongside surging public awareness about medical technology advances have raised the demand for artificial organs.
Meantime, high implantation prices and lack of adequate surgical expertise in the better half of regions are poised to limit the growth of the marketplace. Although, the deficiency and shortage of organ donors upon requirement has simulated the development of the artificial organs technology the world over. Hence, the market value is projected to amount to go beyond the USD 20 billion mark by 2022, posting close to 7% CAGR.
Presently, North America grabs the lion’s market share, followed by Europe and the APAC region.
Heartware International, Abiomed, Boston Scientific Corporation, Edwards Lifesciences Corp, and Cochlear Limited, amid others, are the most outstanding market players.
Topical research report “Artificial Organs Market” drawn up by IMARC Group offers a comprehensive, unbiased analysis of the market performance from a global perspective, as well as speculates on how the sector will likely evolve in the offing. It presents granular market segmentation by type, and region-wise. The study gives a macro review of the market as well as provides comprehensive details of the industry performance, limelights the recent industry trends, provides a detailed SWOT analysis, includes Porter’s five forces analysis, examines the value chain and reviews the different stages in the value chain. The research indentifies the main factors driving and hindering the artificial organs market growth, assesses the market shares of the top players. The report limelights the competitive scene, uncovers the degree of competition, and profiles the 5 dominant market players.
More topical reports by the publisher can be found at IMARC Group page.